Stock futures fall as oil prices turn higher once again: Live updates

Stock futures fell Tuesday, as crude prices resumed their upward trajectory and traders assessed President Donald Trump‘s call on other countries to help the U.S. protect shipping along the Strait of Hormuz.

S&P 500 futures slipped 0.1%, while Nasdaq 100 futures declined 0.2%. Futures tied to the Dow Jones Industrial Average hovered around the flatline.

Volatile oil prices and the fallout of the Iran war continue to influence investor sentiment. On Tuesday morning, oil prices jumped 3%, sending global benchmark Brent crude back above the $100 mark.

Oil’s bounce came after Trump suggested some countries are “less than enthusiastic” about a plan to help escort oil tankers through the Strait of Hormuz. The president encouraged other nations to “get involved quickly and with great enthusiasm.”

“We have some that are really enthusiastic. They’re coming already. They’ve already started to get there,” Trump said. “We’ll give you a list. Some are very enthusiastic, and some are less than enthusiastic, and I assume some will not do it. I think we have one or two that will not do it that we’ve been protecting for about 40 years at tens of billions of dollars.”

Oil prices have surged since the start of the U.S.-Israel attacks on Iran on worries that a prolonged closure of the Strait of Hormuz could lead to a global disruption of energy supplies.

Investors are watching for further developments on the war. Many are crediting a relatively strong economy, contained inflation and strong earnings for continued momentum behind the stock market, but Bartlett Wealth Management president Holly Mazzocca said on Monday that “risks to that growth story are mounting.”

“We came into this year with a pretty strong foundation, but especially the labor market has weakened pretty significantly. So that’s the big question for investors right now, is just being realistic that the overall risks to that continued growth story are higher today than they were just a few weeks ago,” Mazzocca said on CNBC’s “Closing Bell.”